SIEMENS MEDICAL SOLUTIONS SETTLES CHARGES RELATED TO HOSPITAL BID

Siemens Medical Solutions has reportedly reached an agreement with the U.S. Attorney's Office for the Northern District of Illinois to settle allegations made in an indictment filed in January 2006.

Under the agreement, Siemens will plead guilty to a single federal criminal charge of obstruction of justice in connection with civil litigation that followed a competitive bid to provide radiology equipment to Cook County Hospital in 2001, according to reports.

Siemens also agreed to pay a fine of $1 million and restitution of approximately $1.5 million.